It's unclear from the report what kind of steps Apple is going to take to make the iPhone 7 waterproof, but it does describe "new compound materials" that will remove the outside antenna bands and could add water resistance by being less porous.

Apple has a "tick, tock" update strategy with the iPhone: The "tick" upgrades are big, new-number models (such as the iPhone 4, 5, and 6) that often add a new design, while the "S" models are "tock" upgrades that add smaller features (such as 3D Touch).

According to Sony, waterproofing is achieved by covering all ports — such as headphones and USB — and sealing the edges of the display so that water cannot seep in. Reports have suggested that Apple could be looking at creating "self-healing" seals that cover ports.

Here's how the self-sealing port would work.Apple/USPTO/BI

According to reports, the iPhone 7 will launch in October 2016, have a new design, and could do away with the home button.